Dylan A. Brown and Andrew K. Fosberg of CBRE’s Phoenix office represented the seller, Dr. Hosn Hojatollah Askari, who signed a long-term NNN lease and will continue to be a tenant in the building. The buyer, Delaware limited liability company GMR Prescott, LLC, handled the sale in-house.

HFF Brokers $109.5 Million Sale of Former Playboy Enterprises HQ

HFF recently brokered and arranged the financing for the $109.5 million sale of the former headquarters of Playboy Enterprises, Crain’s Chicago Business reported. Today, the 29-story building houses several health care tenants, including Lurie Children’s Hospital, NorthShore University HealthSystem, Northwestern Medical Faculty Foundation and Northwestern University Feinberg School of Medicine.

Newly created, Florida-based TopMed Realty purchased the commercial portion of the property from a venture of Chicago-based real estate firm Golub and its partner, a German fund.

“This property aligns with all of our investment objectives and is indicative of our future investment plans,” TopMed CEO Roni Soffer said in a statement. “We plan to selectively acquire properties, near and integral to top-rated medical universities and hospitals, in markets with high barriers to entry and strong demographics.”

TopMed plans to make the property “the pre-eminent medical office and research building in downtown Chicago,” Soffer added in a statement.

The deal was backed by a new $75 million loan from PNC Bank and was completed on Dec. 7, 2016.

Playboy vacated the property in 2012, when the publisher’s base moved to Los Angeles.

The properties have undergone near complete renovations in the last 24 months and are 95% leased, HFF said. Services offered in the buildings include urgent care, hematology oncology and vascular surgery.